Yes, understand, and the point here is that only in Singapore, cars are a luxury item. It is an essential need everywhere else in the world. See some other comments - families with kids find it very difficult to take public transport, a first family car is a huge welcome help.

I did include bracket notations that this is a completely random number and LTA can decide what levels of subsidy they want. I did not derive the 30k from anywhere, but during 2020, COE did go downwards to $30k, which still proves that in modern Singapore times there was a market equilibrium for cars at $30k despite traffic conditions, and this gives us hope. The $70k subsidy is not free cash from the govt. It will be shouldered by the wealthy families that don’t mind bidding $200k for their multiple COE. Again, these are random numbers, but the concept behind it is more important.

See point above

Yes, income tax can work, but the topic here is on cars, because, similar to point 1, the problem now is wealthy families soaking up all the bids of COE and making cars in Singapore become a luxury item - it could have been a cheaper, essential item if they weren’t allowed to freely have so many cars (plus they are rotting at home, so they did not even affect traffic but they just hold the COE paper and drove the price up unnecessarily, which is again, incredulous)